Yes. ${} returns whatever status the previous command set (via status).
So let:
foo :
status "I am a great command!"
Then:
$ gmic -command foo.gmic run 'foo echo ${}'
[gmic]-0./ Start G'MIC interpreter.
[gmic]-0./ Import commands from file 'foo.gmic', with debug info (1 new, total: 4661).
I am a great command!
[gmic]-0./ End G'MIC interpreter.